While Digital Battle doesn't detail how it pulled together the games' budgets, and at least one publisher has already come forward saying the numbers are off, the list makes it clear that game developers are spending like movie studios to produce their games. The rundown:

Metal Gear Solid 4 producer Kenichiro Imaizumi, however, told Kotaku today that Digital Battle's figure is incorrect.
"It's being written in recent news that MGS4's budget was over 5 billion [yen] or 7 billion [yen]. It didn't cost that much." If it cost that much, Imaizumi told Kotaku, the game wouldn't have been a PS3 exclusive.

Sharkey says: $70 million for Shenmue? That game came out in 1999 for the Dreamcast, making it $86 million in today's dollars. No wonder Sega had to get out of the console biz in 2001.